India’s IPO market remains robust in July 2025, with several high-profile offerings lined up across the pharmaceutical and biotech segments. Riding this momentum, Anthem Biosciences Limited, a leading contract research, development, and manufacturing organisation (CRDMO), has opened its IPO on July 14, 2025.
Here is a detailed insight into Anthem Biosciences IPO, and the industry outlook.
About Anthem Biosciences Ltd.
Founded in 2006, Anthem Biosciences Limited is an innovation-driven and technology-focused CRDMO in the pharma sector. The company has fully integrated operations encompassing drug discovery, development, and manufacturing processes.
The company serves a diverse global clientele, including emerging biotech firms and large pharmaceutical companies, manufacturing specialised fermentation-based APIs such as:
- Probiotics
- Enzymes
- Peptides
- Nutritional actives
- Vitamin analogues
- Biosimilars
As of September 30, 2024, Anthem Biosciences Ltd. IPO details include engaging in 196 projects, including 170 discovery projects, 132 early-phase projects, 16 late-phase projects, and 13 commercial manufacturing projects. Its customer base spans over 44 countries, including the US, Europe, and Japan, and it holds eight granted patents globally, with 24 pending applications.
The company employs over 600 professionals, including medicinal chemists, microbiologists, molecular biologists, biochemists, and chemical engineers.
Anthem Biosciences Ltd. IPO Details
The IPO aims to raise ₹3,395 crore through an offer for sale of 5.96 crore shares. The proceeds will go to selling shareholders, with the company not receiving any funds directly from this offering.
Important IPO Timeline
| Event | Date |
| IPO Open Date | July 14, 2025 |
| IPO Close Date | July 16, 2025 |
| Allotment Date (Tentative) | July 17, 2025 |
| Initiation of Refunds | July 18, 2025 |
| Credit of Shares to Demat | July 18, 2025 |
| Listing Date (Tentative) | July 21, 2025 |
| UPI Mandate Cut-off | 5 PM on July 16, 2025 |
Key IPO Details
| Particulars | Details |
| Face Value | ₹2 per share |
| Issue Price Band | ₹540 to ₹570 per share |
| Lot Size | 26 Shares |
| Total Issue Size | 5,95,61,404 shares (₹3,395.00 Cr) |
| Fresh Issue | NIL |
| Offer for Sale | 5,95,61,404 shares (₹3,395.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing at | BSE, NSE |
| Shareholding Pre-Issue | 55,90,77,100 shares |
| Shareholding Post-Issue | 55,90,77,100 shares |
| Employee Discount | ₹50 per share |
Lot Size of Anthem Biosciences Ltd. IPO
| Application Type | Lots | Shares | Amount |
| Retail (Min) | 1 | 26 | ₹14,820 |
| Retail (Max) | 13 | 338 | ₹1,92,660 |
| S-HNI (Min) | 14 | 364 | ₹2,07,480 |
| S-HNI (Max) | 67 | 1,742 | ₹9,92,940 |
| B-HNI (Min) | 68 | 1,768 | ₹10,07,760 |
Anthem Biosciences Ltd. Financials
The IPO values Anthem Biosciences Ltd. at a market capitalisation of ₹31,867.39 crore. The company has delivered strong financial growth over recent years, supported by its innovation-focused approach and expanding global footprint.
Key Performance Indicators (as of Mar 31, 2025)
- Return on Equity (ROE): 20.82%
- Return on Capital Employed (ROCE): 26.88%
- Return on Net Worth (RoNW): 20.82%
- Profit After Tax (PAT) Margin: 23.38%
- EBITDA Margin: 36.81%
- Price-to-Book Value: 13.23
- Pre-IPO EPS: 8.07
- Post-IPO EPS: 8.07
- Pre-IPO P/E: 70.62
- Post-IPO P/E: 70.62
Company Financial Snapshot
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets (₹ Cr) | 2,807.58 | 2,398.11 | 2,014.46 |
| Revenue (₹ Cr) | 1,930.29 | 1,483.07 | 1,133.99 |
| Profit After Tax (₹ Cr) | 451.26 | 367.31 | 385.19 |
| EBITDA (₹ Cr) | 683.78 | 519.96 | 446.05 |
| Net Worth (₹ Cr) | 2,409.86 | 1,924.66 | 1,740.67 |
| Reserves and Surplus (₹ Cr) | 2,298.05 | 1,815.39 | 1,628.88 |
| Total Borrowing (₹ Cr) | 108.95 | 232.53 | 125.06 |
Anthem Biosciences Ltd.: Industry Outlook
- India’s CRDMO market is witnessing accelerated growth, driven by increasing global outsourcing of drug discovery and manufacturing.
- Rising demand for fermentation-based APIs and biologics is creating new opportunities for innovation-driven organisations.
- Anthem Biosciences’ integrated service offerings and global customer base position it well to benefit from these trends.
However, investors should consider risks such as regulatory hurdles, global market dependencies, and competition from established global CDMOs and CRDMOs.
Use of IPO Proceeds
Anthem Biosciences Ltd. will not receive any proceeds from the IPO, as it is a complete Offer for Sale by existing shareholders.
Conclusion
Anthem Biosciences Ltd.’s IPO offers investors exposure to India’s rapidly growing contract research and manufacturing sector. The company’s strong financial performance, global clientele, and innovation-led business model support its long-term growth prospects.
However, the valuation appears on the higher side based on current earnings, and investors should assess their risk profile before investing. The IPO may appeal to those with a long-term investment horizon seeking exposure to the pharmaceutical and biotech services space.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
